50 Famous Quotes: He is the Greatest leader ever head. He speaks bravely, motivating, and inspiring to people. Abraham Lincoln (February 12, 1809 – April 15, 1865) was an American lawyer and politician who served as the 16th president of the United States from 1861 until his assassination in April 1865. Free Download in PDF: 99+ Abraham Lincoln Quotes!
Here are 50 Famous Inspirational Quotes by Abraham Lincoln:
The following quotes below are:
My father taught me to work; he did not teach me to love it.
Common looking people are the best in the world: that is the reason the Lord makes so many of them.
How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn’t make it a leg.
And in the end, it’s not the years in your life that count. It’s the life in your years.
My experience has taught me that a man who has no vices has damned few virtues.
Let not him who is houseless pull down the house of another, but let him work diligently and build one for himself, thus by example assuring that his own shall be safe from violence when built.
Will springs from the two elements of moral sense and self-interest.
My great concern is not whether you have failed, but whether you are content with your failure.
The way for a young man to rise is to improve himself in every way he can, never suspecting that anybody wishes to hinder him.
I am a slow walker, but I never walk backward.
I will prepare and some day my chance will come.
I want it said of me by those who knew me best; that I always plucked a thistle and planted a flower where I thought a flower would grow.
I never had a policy; I have just tried to do my very best each and every day.
If there is anything that a man can do well, I say let him do it. Give him a chance.
You cannot escape the responsibility of tomorrow by evading it today.
Nearly all men can stand adversity, but if you want to test a man’s character, give him power.
I do not think much of a man who is not wiser today than he was yesterday.
Fourscore and seven years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.
People are just as happy as they make up their minds to be.
Nearly all men can stand adversity, but if you want to test a man’s character, give him power.
With malice toward none, with charity for all.
That some should be rich, shows that others may become rich, and, hence, is just encouragement to industry and enterprise.
Always bear in mind, that your own resolution to succeed is more important than any other thing.
Determine that the thing can and shall be done, and then we shall find the way.
I have noticed that folks are generally about as happy as they make up their minds to be.
I don’t think much of a man who is not wiser today than he was yesterday.
The best thing about the future is that it comes only one day at a time.
When I do good, I feel good. When I do bad, I feel bad. That’s my religion.
You cannot escape the responsibility of tomorrow by evading it today.
The best thing about the future is that it comes only one day at a time.
I don’t like the man. I must get to know him better.
Those who deny freedom to others, deserve it not for themselves; and under a just God, can not long retain it.
Whatever you are a good one.
Always bear in mind that your own resolution to succeed is more important than any other one thing.
I am not bound to win, but I am bound to be true. I am not bound to succeed, but I am bound to live up to what light I have.
I like to see a man proud of the place in which he lives. I like to see a man live so that his place will be proud of him.
Whatever you are, be a good one.
Get books, sit yourself down anywhere, and go to reading them yourself.
All I have learned, I learned from books.
When I get ready to talk to people, I spend two-thirds of the time thinking about what they want to hear and One-Third thinking about what I want to say.
I would rather be a little nobody, then to be an evil somebody.
I will prepare and some day my chance will come.
You can tell the greatness of a man by what makes him angry.
Most folks are as happy as they make up their minds to be.
My concern is not whether God is on our side; my greatest concern is to be on God’s side, for God is always right.
Everybody likes a compliment.
I’m a success today because I had a friend who believed in me and I didn’t have the heart to let him down.
My best friend is a person who will give me a book I have not read.
Always bear in mind that your own resolution to succeed is more important than any one thing.
If slavery is not wrong, nothing is wrong.
50 Famous Motivational And Inspirational Quotes by Abraham Lincoln!
Companies using data warehousing and its effects, How many Types of Data Warehousing? What are the benefits of using data warehousing? The term data warehouse or data warehousing was first coined by Bill Inmon in the year 1990 which was defined as a “warehouse which is subject-oriented, integrated, time variant and non-volatile collection of data in support of management’s decision-making process”. When referring to data warehousing as subject-oriented, it simply means that the process is giving information about a particular subject rather than the details regarding the on-going operations of the company. It is a blend of technologies and components which allows the strategic use of data. You are read and studying to learn, What do you think of Data Warehousing? Download PDF.
A data warehousing is a technique for collecting and managing data from varied sources to provide meaningful business insights. What do you think of Data Warehousing? Download PDF.
It is electronic storage of a large amount of information by a business which is designed for query and analysis instead of transaction processing. It is a process of transforming data into information and making it available to users in a timely manner to make a difference. Moreover, when data warehousing was referred to as integrated it means that the data or information which are gathered from a number of sources are then all gathered to synthesize a coherent whole.
On the other hand, data warehousing being time variant simply means that the data available were identified during a particular period. Lastly, data warehousing as being non-volatile means that the data is stable and when a new data is added to the system, the old data are never removed, instead they just remain there and this enables the organization to be able to give the management consistency in their business. In the existence of modern times with the advent of technological advancements inevitably affecting the businesses in major ways, there has also been a development and emergence of new measures, practices, and techniques which used technology to be able to provide an unwavering solution to the problems in the organization with regards to the level and kind of information that the organization needs to be able to survive and prosper amidst the increasing competition in the market.
Undeniably, one of this techniques and practices refers to the emergence of data warehousing as a tool for helping today’s businesses to be able to manage competition and the turbulent economic condition. The birth f the concept of data warehousing can be contributed to various researches and studies which were conducted in the past to provide various organizations with the means of getting information in a manner which is efficient, effective, and flexible. The data warehousing which is known today among the corporate practice is not what it was when it started almost two decades ago. The practice of data warehousing nowadays is a result of the experiences and technologies in the last twenty years. Bill Inmon and Ralph Kimball are two of the heavyweights when it comes to data warehousing.
However, although their names are known in this field, these two scholars have two varying views with regards to data warehousing. The paradigm which was illustrated by Inmon holds that the data warehouse forms only a part of the general business intelligence system. On the other hand, the paradigm of Kimball assumes that the data warehouse is a conglomerate of all the data in the organization.
Other researchers assume that there is no right or wrong theories among the two assumptions from the two heavy weighs in data warehousing. However, most of them support the notion of Kimball’s paradigm. They believe that most data warehouses started only as efforts from various departments starting with what they call as data marts until they develop and evolve to become a data warehouse. Furthermore, data warehousing has been heralded as one of the sustainable solutions to management information and dilemma and such also provide the organization and environment which entails various benefits if they are practiced in the right way and if the perspectives are directed towards the right goal.
The process of data warehousing is said to have the intention of providing an architectural model which can best provide an illustration of the flow data from the systems regarding the operation of the decision support environments. However, according to the same author, one problem stems down from the data warehousing technique – that is such a system is said to be too expensive to be affordable for some organizations or businesses.
It is undeniable that data warehousing continues to attract interest, it is also undeniable that many projects are failing to deliver the expectations from what they are supposed to deliver and they still prove to be too high of accost to be handled by some businesses. However, to be able to justify this relatively high cost, it has been said that organizations should look at the long-term benefit of the warehouse rather than simply looking at the short-term benefits that such an offer. Moreover, data warehousing is also said to be designed to be able to support ad-hoc data analysis, inquiry and reporting by end-users, without programmers, interactively and online.
There are some key factors which can make the data warehousing practice a success among different organizations. One of the key ingredients to the success of the practice is to make the management, especially the higher management, aware and conscious of all the benefits which this tool entails and what can data warehousing do to improve the performance of the business.
Another key to the success of data warehousing is choosing the right people to make it happen. By choosing the right people, the contribution of individual minds should be recognized to form a synthesis and a greater whole. Training strategy, the right structure or architecture, a sustainable mission statement, showing early benefits, ensuring scalability, understanding how important is the quality of data and using only proven and effective methodology are some of the other key ingredients to make data warehousing a successful practice, Data Warehousing file Download in PDF.
Why needs Data warehousing?
The data warehousing is needed for all types of these users like:
If the user wants fast performance on a huge amount of data which is a necessity for reports, grids or charts, then Data warehouse proves useful.
Decision makers who rely on the mass amount of data.
It is also used by the people who want simple technology to access the data.
It also essential for those people who want a systematic approach to making decisions.
The data warehouse is a first step If you want to discover ‘hidden patterns’ of data-flows and groupings.
Users who use customized, complex processes to obtain information from multiple data sources.
The Companies using data warehousing and its effects.
An example of a known company which uses data warehousing is WalMart. Being the world’s largest retailer, many say that the company should be also the organization with the largest data warehouse which is going to serve as the database of its inventory and all transactions related to their business performance. The data warehousing also has a big implication on the business of WalMart.
According to the management of the world’s largest retailer, more than any other purpose, their data warehouse is helping them to be able to make decision support systems between the company and its various suppliers. Aside from that, another implication of data warehousing on WalMart is that it enables the suppliers to be able to access a large amount of online information and data which will be helpful with their suppliers in terms of improving their operations.
One example of companies using and reaping the benefits of adapt warehousing will be various pharmaceutical companies, or on a larger scale, the general healthcare industry. For most of the pharmaceutical businesses which are under operation, they were able to acknowledge the fact that they lack a sustainable focus on their promotional practices, resulting in diffused sales efforts. With that, they regard that data warehousing technique has a big implication in their business because they regard such as the best medicine and remedy for the aforementioned problem.
They are even using data warehousing to be able to attain a sustainable competitive edge against other businesses in the industry. In the case of pharmaceutical companies, it has an implication also in the marketing department. Data warehousing helps the marketing department, through various information contained, to come up with promotional and marketing activities which can yield the maximum results. Moreover, data warehousing also has an implication on the human resources department of the organizations because they can also help in the effective allocation of people and resources.
How many Types of Data Warehousing?
There are three main types of Data Warehousing are:
Enterprise Data Warehousing: Enterprise Data Warehouse is a centralized warehouse. It provides decision support service across the enterprise. It offers a unified approach to organizing and representing data. It also provides the ability to classify data according to the subject and give access according to those divisions.
Operational Data Store: Operational Data Store, which is also called ODS, are nothing but data store required when neither Data warehouse nor OLTP systems support organizations reporting needs. In ODS, Data warehouse is refreshed in real time. Hence, it is widely preferred for routine activities like storing records of the Employees.
Data Mart: A data mart is a subset of the data warehouse. It specially designed for a particular line of business, such as sales, finance, sales or finance. In an independent data mart, data can collect directly from sources.
What are the benefits of using data warehousing?
Some of the benefits of data warehousing that it offers include the fact that it has a relative orientation on the subject area, it has the ability to provide an integration of data which were retrieved from diverse and multiple sources, it allows data analysis from time to time, it adds ad hoc inquiry and reporting, it provides decision makers with the capabilities to analyze, it relieves the IT from information development.
It has the ability to provide better performance for complex analytical queries, it relieves the burden of processing databases which are based on transactions, it allows a planning process that is perpetual and continuous, and lastly, it converts corporate data to make them strategic information which can help them in planning for a better performance of the organization.
Another benefit of data warehousing is that it enables and it helps different organizations in the strategic decision making resulting into the formulation of strategic decisions which are geared towards enabling a better business performance and yielding better results.
It can be assumed that most data warehousing practices are not intended for strategic decision making because they are normally used for post-monitoring of decisions regarding how effective they are. Nonetheless, it should not be also disregarded that data warehousing, can also be sued for strategic decision making and can be used profitably.
Another benefit of data warehousing is that it enables the user to have unlimited access to a relatively very large amount of enterprise information which can be used to potentially solve a large number of enterprise problems which can even be used to increase the profitability of the company. A very well-designed data warehouse can yield a greater return-on-investment with unlimited benefits had the ability to better assess the risks associated with the organization. Fully read on PDF file and download.
Explain and learn, Personnel Management: Functions, Nature, Principles, and Importance!
Personnel Management (staffing function of Management), also known as Human Resource Management. The concept of Personnel Management study is – Functions of Personnel Management, Nature of Personnel Management, Principles of Personnel Management, and Importance of Personnel Management. Personnel management is concerned with the proper use of human factors. Personnel management may be defined as that part of the management process, which is primarily concerned with the human constituents of an organization. Also learned with PDF Reader, free Download, Personnel Management: Functions, Nature, Principles, and Importance!
Personnel management can also be defined as, that field of management which is concerned with the planning, organising, directing and controlling various operative functions of procurement, development, maintenance and utilisation of a labour force in such a way that objectives of company, those of personnel at all levels and those of community are achieved.
Functions of Personnel Management are of two types: 1. Managerial Functions 2. Operative Functions!
Managerial Functions:
The Managerial functions of a personnel manager involve POSDCORB (Luther Gullick) i.e., Planning, organization, staffing, directing, coordinating, reporting and budgeting of those who actually perform the operative functions of the Personnel Department.
The following are the managerial functions (viz. planning, organizing, directing and controlling) performed by a personnel department:
Personnel Planning:
Planning lays down a pre-determined course to do something such as what to do, how to do, where to do, who is to do etc. A personnel manager plans in advance the trend in wages, labor market, union demands etc. Through planning, most of the future problems can be anticipated.
Organizing:
According to J.C. Massic, “An organization is a structure, a framework and a process by which a co-operative group of human being allocates its task among its members, identify relationships and integrates its activities towards common objectives.” The personnel manager has to design the structure of relationships among jobs, personnel, and physical factors so that the objectives of the enterprise are achieved.
Directing:
This function relates to guidance and stimulation of the subordinates at all levels. The personnel manager directs and motivates the employees of his department so that they work willingly and effectively for the achievement of organizational goals,
Controlling:
A personnel manager has to constantly watch whether there is any deviation from the planned path. Controlling is concerned with remedial actions. Continuous monitoring of the personnel policies relating to training, labor turnover, wage payments, interviewing new and separated employees etc., is the backbone of controlling.
If deviations are unavoidable, corrective action can be planned in advance. Controlling helps the personnel manager to evaluate the performance of employees in the personnel department so far as the operating functions are concerned.
Operative Functions:
The operative functions of the Personnel Department are also called service functions.
These include.
(a) Procurement function
(b) Development
(c) Promotion, transfer and termination function
(d) Compensation function
(e) Welfare function
(f) Collective bargaining function
(g) Miscellaneous functions.
These functions of the Personnel Department are discussed below:
(1) Procurement:
It includes:
(a) Recruitment i.e., tapping the possible sources from where prospective labor supply will come.
(b) Getting information regarding prevailing wage rates and job requirements.
(c) Selecting the best candidate by following a systematic selection procedure.
(d) Maintaining the records of employees.
(e) Introducing the new employee to the officers of the other departments such as Security Officer, Time Keeper, and Cashier etc.
(2) Training or Development Function:
The training of the new employees and also of those who are being promoted is the crucial function of Personnel Department. A training programme is devised for this purpose. The training increases the skills and abilities of the employees.
The various aspects of training are:
(a) Training to new employees, instructors, and supervisors.
(b) Training in safety equipment and various policies of companies.
(c) Training through improvement of education such as evening classes, films, Entertainment programmes etc.
(d) Encouraging employees to give suggestions.
(3) Promotion, Transfer, and Termination:
The performance of the employees is evaluated for the purpose of making decisions concerning the employment. Merit rating is undertaken for evaluation of the performance of the employees.
The functions of the Personnel Department in this regard are given below:
(a) To lay down a promotion policy.
(b) To formulate policies regarding transfer and termination.
(c) Analysis of voluntary separations and knowing the possible causes of such separations.
(4) Compensation:
The employees should get adequate and equitable remuneration for the work being done by them.
The functions of the Personnel Department concerned with fixation of fair wages is:
(a) To evaluate jobs and determine their worth in terms of money.
(b) To collaborate with those who formulate wage plans.
(c) To assist in the formulation of policies regarding pension plans, profit sharing programmes, non-monetary benefits, etc.
(d) To compare the wages of the enterprise with the industry and remove inconsistencies, if any.
(5) Welfare Activities:
These activities relate to the physical and social well-being of the employees and include:
(a) Provision of medical facilities such as first aid, dispensaries, etc.
(b) Suggesting ways and means by which accidents can be eliminated or minimized.
(c) To make provisions for restaurants and other recreational facilities.
(d) To apply the labor laws effectively.
(e) To publish a plant magazine.
(6) Collective Bargaining:
It includes:
(a) To assist in the negotiations which are held with the union leaders?
(b) To know the grievances of employees and following their problems properly.
(7) Miscellaneous:
(a) To advise the line managers regarding administration of personnel policies.
(b) To secure co-ordination of all personnel activities.
(c) To have an effective communication system.
(d) To provide good working conditions.
Nature of Personnel Management:
Personnel management includes the function of employment, development, and compensation- These functions are performed primarily by the personnel management in consultation with other departments.
Personnel management is an extension of general management. It is concerned with promoting and stimulating competent workforce to make their fullest contribution to the concern.
Personnel management exists to advise and assist the line managers in personnel matters. Therefore, personnel department is a staff department of an organization.
Personnel management lays emphasize on action rather than making lengthy schedules, plans, work methods. The problems and grievances of people at work can be solved more effectively through rationale personnel policies.
It is based on human orientation. It tries to help the workers to develop their potential fully to the concern.
It also motivates the employees through its effective incentive plans so that the employees provide fullest co-operation.
Personnel management deals with human resources of a concern. In the context of human resources, it manages both individuals as well as blue-collar workers.
Principles of Personnel Management:
Principles of personnel management help the personnel managers to conduct and direct the policies in a proper way.
These principles are:
The principle of Maximum Personnel Development:
By this principle, the workers are developed to the maximum extent, so that their developed ability, cleverness, productivity, and efficiency can be used for the firm’s objective.
The principle of Scientific Selection:
This principle enables to have a right person for the right job.
The principle of High Morale:
Ideal wage policy should be offered to the workers so that their morale becomes high and they work with interest.
The principle of Dignity of Labour:
The labor should feel proud of their work.
The principle of Team Spirit:
Team spirit must be developed among the workers. They should work collectively with collective responsibility and should have a sense of cooperation, unity and mutual trust.
The principle of Effective Communication:
There must be effective communication between the management and workers otherwise complex problems like mistrust, hatred and ill- will arise which in turn affects the production of the organization.
The principle of Joint Management:
This creates responsibility in the labor with increasing mutual faith and friendship. This improves the labor relations.
The principle of Fair Reward:
Labour should be given proper compensation for the work. This develops the industrial piece.
The principle of Effective Utilisation of Human Resources:
Personnel management should be developed for the effective use of the human resources. Proper training should be awarded to the personnel for their development.
Importance of Personnel Management:
Personnel management is important for avoiding the following consequences:
To hire the wrong person for the job
To experience high turnover
To find your people not doing their best
To waste time with useless interviews
To have some of one’s employees think their salaries are unfair and inequitable relative to others in the organization.
To allow a lack of training to undermine one’s department’s effectiveness.
To commit any unfair labor practices.
The acquisition of skilled, talented and motivated employees is an important part of personnel management. The acquisition phase involves recruiting, screening, selecting and placing personnel. Retaining competent individuals is also important to an organization. If qualified individuals regularly leave a company, it becomes necessary to continuously seek new personnel, which costs money and time.
The opposite of retention is, of course, termination, an unpleasant part of any manager’s job. Occasionally, some employees must be terminated for breaking rules, failing to perform adequately or job cutbacks.
Developing human resources involves training, educating, appraising and preparing personnel for present or future jobs. These activities are important for the material and psychological growth of employees. It is not possible to satisfy the need for personnel in an organization if it does not have an active employee development programme.
For utilizing the full potential of manpower, there is need to understand both individual and organizational needs. It is also necessary to match two things: availability of different types of manpower, over time and organizational needs for such manpower. Personnel management is normally regarded as a staff function whose role is to serve the organization and help it achieve its objectives.
The Concept of Financial Decisions, The Factors Influencing Financial Decisions: 1. External Factors, and 2. Internal Factors, Fully Explain It by PDF and Free Download, and What is the Importance of Financial Decisions? Definition: The Financing Decision is yet another crucial decision made by the financial manager relating to the financing-mix of an organization. It is concerned with the borrowing and allocation of funds required for the investment decisions. Also learned, The Factors Influencing and Importance of Financial Decisions!
Learn and Understand, The Factors Influencing and Importance of Financial Decisions!
The financing decision involves two sources from where the funds can be raised: using a company’s own money, such as share capital, retained earnings or borrowing funds from the outside in the form debenture, loan, bond, etc. The objective of financial decision is to maintain an optimum capital structure, i.e. a proper mix of debt and equity, to ensure the trade-off between the risk and return to the shareholders.
The Concept of Financial Decisions:
Financial decisions refer to decisions concerning financial matters to a business concern. Decisions regarding the magnitude of funds to be invested to enable a firm to accomplish its ultimate goal, kind of assets to be acquired, the pattern of capitalization, pattern of distribution of firm’s income and similar other matters are included in financial decisions.
These decisions are crucial for the well-being of a firm because they determine the firm’s ability to obtain plant and equipment when needed to carry the required amount of inventories and receivables, to avoid burdensome fixed charges when profits and sales decline and to avoid losing control of the company. Financial decisions are taken by a finance manager alone or in conjunction with his other executive colleagues of the enterprise. In principle, the finance manager is held responsible to handle all such problems as involve money matters.
But in actual practice, he has to call on the expertise of those in other functional areas: marketing, production, accounting, and personnel to carry out his responsibilities wisely. For instance, the decision to acquire a capital asset is based on the expected net return from its use and on the associated risk. These cannot be given values by the finance manager alone. Instead, he must call on the expertise of those in charge of production and marketing.
Similarly, the decision regarding allocation of funds as between different types of current assets cannot be taken by a finance manager in the vacuum. The policy decision in respect of receivables—whether to sell for credit, to what extent and on what terms is essentially financial matter and has to be handled by a finance manager. But at the operating level of carrying out the policies, sales may also be involved since decisions to tighten up or relax collection procedures may have repercussion on sales.
Similarly, in respect of inventory, while determining types of goods to be carried in stock and their size are a basic part of the sales function, a decision regarding the quantum of funds to be invested in inventory is the primary responsibility of the finance manager since funds must be supplied to finance inventory.
As against the above, the decision relating to the acquisition of funds for financing business activities is primarily a finance function. Likewise, the finance manager has to take a decision regarding the disposition of business income without consulting other executives since various factors involved in the decision affect the ability of a firm to raise funds. In sum, financial decisions are looked upon as cutting across functional, even disciplinary boundaries. It is in such an environment that a finance manager works as a part of total management.
The Factors Influencing Financial Decisions:
A finance manager has to exercise a great skill and prudence while taking financial decisions since they affect the financial health of an enterprise over a long period of time. It would, therefore, be in the fitness of things to take the decisions in the light of external and internal factors. We shall now give a brief account of the impact of these factors on financial decisions.
External Factors:
External factors refer to environmental factors within which a business enterprise has to operate. These factors are beyond the control and influence of the management. A wise management adopts policies that will be most suited to the present and prospective socio-economic and political conditions of the country.
The following external factors enter into decision-making process:
The State of Economy.
Structure of Capital and Money Markets.
State Regulations.
Taxation Policy.
Requirements for Investors, and.
Lending Policy of Financial Institutions.
Internal Factors:
Internal factors refer to those factors which are related with internal conditions of the firm such as nature of business, size of business, expected return, cost and risk, asset structure of business, structure of ownership, expectations about regular and steady earnings, age of the firm, liquidity in company funds and its working capital requirements, restrictions in debt agreements, control factor and attitude of the management.
Within the economic and legal environment of the country finance manager must take the financial decision, keeping in mind the numerous characteristics of the firm.
Impact of each of these factors upon financial decisions will now be discussed in the following lines.
Nature of Business.
Size of Business.
Expected Return, Cost, and Risk.
Asset Structure of the Firm.
Structure of Ownership.
Probabilities of Regular and Steady Earnings.
Age of the Firm.
Liquidity Position of the Firm and Its Working Capital Requirements.
These decisions are relatively more important because of the following reasons:
(1) Long-term Growth and Effect:
These decisions are concerned with long-term assets. These assets are helpful in production. Profit is earned by selling the goods so produced. It can, therefore, be said the more correct these decisions are, the greater will be the growth of business in the long run. In addition to that, these affect the future possibilities of the business.
(2) Large Amount of Funds Involved:
Decisions regarding fixed assets are included in the preview of capital budgeting. A large amount of capital is invested in these assets. If these decisions turn out to be wrong, there occurs the heavy loss of capital which is a scarce resource.
(3) Risk Involved:
Capital budgeting decisions are full of risk. There are two reasons for it. First, these decisions refer to a long period, and as such expected profits for several years are to be anticipated. These estimates may turn out to be wrong. Second, because of the heavy investment involved, it is very difficult to change the decision once taken.
(4) Irreversible Decisions:
Nature of these decisions is such as cannot be changed so quickly. For instance, if soon after setting up a cotton mill, it is thought of changing it, then the old machinery and other fixed assets will have to be sold at the throwaway price. In doing so, the heavy loss will have to be incurred. Changing these decisions, therefore, is very difficult.
Learn, Explain Recruitment & Selection – Hiring Process and Hiring Decision: Meaning, Definition with Nature of Hiring!
Hiring Process and Hiring Decision: Nature of Hiring, Regular, Temporary, full time, part time, Apprentice, Contractual, Outsourcing, Existing Post or New Post to be Created, Need Analysis, Job Analysis. Continue after Job Analysis: Meaning, Definition, and Purpose with Methods. For Study of Recruitment & Selection!
Hire is defining: Obtain the temporary use of (something) for an agreed payment.
Meaning of Hiring: The act of giving someone a job; an employer taking on a new employee. “After several interviews, the CEO told me that he wanted to hire me for the management position and that I could start work next week.”
Definition of Hiring: The practice of finding, evaluating, and establishing a working relationship with future employees, interns, contractors or consultants.
Purpose of Job Analysis: Broadly speaking in the context of HR selection, job analysis data are frequently used…
Methods of Job analysis:
Job Analysis Interviews: In the Context of HR Selection, a job analysis interview is typically performed for one or more of the following reasons…
Job Analysis Questionnaire.
Task Analysis Inventory: Task inventory process…
Position Analysis Questionnaire: Items on the PAQ are organized into six basic divisions or sections. These divisions and a definition are as follows… with Rating, scales are used in the PAQ for determining the extent to which the items are relevant to the job under study. Six different types of scales are used…
Subject Expert Workshops: There is no one particular format for conducting the workshops. However, the following general steps seem to characterize most workshops…
Critical Incident Technique: As the basic elements of information collected are job behaviors rather than personal traits, it is a work-oriented procedure…
Fleishman Job Analysis Survey.
Functional Job Analysis: Two types of task information are obtained from FJA… with when using FJA, judgments about jobs are based on at least two premises…
Job Element Method.
Repertory Grid: A Grid consists of four parts…
Practical Component.
RECOMMENDED BOOKS.
REFERENCE BOOKS.
Job Analysis: Meaning, Definition, and Purpose with Methods! all content study and learn in one PDF, PDF Reader online or maybe Free Download: Recruitment & Selection – Job Analysis!
Learn and Study, the Strategic Human Resource Management Model!
There are several components that makeup SHRM. Each of these blocks has underlying values and assumptions that, in principle, have already been described. What is the Strategic Human Resource Management Model? PDF, PDF Reader, and Free Download. However, there are also contentious debates on whether there is any well-grounded model on strategic human resource management based on a specific discipline. The major differences are areas of emphasis between business strategies as determinants of human resource strategies and hence aiming at ‘strategic fit’ on one side or a universal approach to making human resource functions responsive to strategic business requirements. Also learned, Guide to Theories in HRM! The Strategic Human Resource Management Model!
The ‘universal approach’ or people as the resource for gaining a competitive advantage are based on the ‘resource-based theory’. This lack of clarity has led to a model that tries to capture important attributes of strategic human resource management model as depicted in Figure 1. The figure displays ten main tenets of strategic human resource management which characterize the philosophical nature of strategic people management and what managers and employees ought to put in place and do in order to excel in a competitive business environment. The description for each tenet is provided below.
Figure 1 Strategic human resource management model:
#Making strategic value choices:
Although the model suggests ten strategic variables of human resource management that have to be embodied in systems, practices, and competencies in order to guide employees as individuals and teams to higher level performance, managers have to focus on the most valuable aspects, depending on the organizational strategy. For example, an organization that emphasizes creativity and innovation will choose and reward employee behavior that demonstrates risk-taking initiatives. That is to say, each of the nine constituents of the model will have different aspects to deal with but managers will have to make decisions and choose systems, processes, programmes or activities with the most strategic value for the individuals, teams, and the organization.
#Strategic integration:
Since HRM is related to other organizational strategies, integration is not only desirable but also necessary to ensure that human resource management decisions are not made for their own sake. HRM policies and procedures need to be linked with an organization‘s strategy, its objectives, and its activities so that performance can be judged in terms of the degree of strategic fit between business strategies and human resource strategies. Also Free Download PDF File: The Strategic Human Resource Management Model!
#Employees as most valuable:
No organization can excel without having the right human resources. Experience suggests that human resources are a key factor in attaining a competitive advantage. It needs to be developed through nurturing, coaching, training, respect and love, care, and encouragement, which are key components of motivation packages. The degree to which the emphasis on staff development of both current and future performance requirements is taken into account depends on the position of the organization in its life cycle.
The premise that human resources are the most valuable of all resources also presupposes that human resource functions cannot be left to personnel departments alone. There is need to place this function to all functional departments with the human resource manager remaining a team leader. Optimal utilization of this asset requires that there should be a deployment of right numbers and skills at the right place at the right time. The old tradition where departmental managers struggled to build their own empires by recruiting and retaining staff no longer holds sway in strategic human resource management.
#Emphasis on management of support staff:
Along the same logic of valuing human resources, managers are challenged to support staff through various techniques so that the latter can have a sense of belonging, enjoyment from the job, gain confidence in the management, identify with the organization and feel that they own it. Informal interactions, open door policy, coaching and mentoring, attractive employee welfare schemes are some of the techniques used to support staff and make them feel proud of their work and the organization.
#Strengthening management and employee’s commitment:
Commitment at all levels of the organizational structure depends on the perceptions and attitudes of both the management and employees towards each other. Negative perceptions and attitudes are the sources of low morale and lack of interest in both the job and the organization. For example, if employees feel that management ignores them when the former attempts to exercise their rights, the level of commitment would be low. Similarly, if the management feels that the workers are lazy and too demanding, they are likely to lose commitment in supporting such staff. However, since in principle, strategic human resource management should be the responsibility of top management, any sign of low employee commitment is the result of poor handling of human resource management issues at the top management level.
Employee commitment can be secured through various techniques. Some are ritualized including organizational songs, slogans, attire or informal gatherings such as cocktail parties etc. Employee involvement in the affairs of the organization through the contribution of ideas, motivation through encouragement, recognition of the individual as well as group efforts in accomplishing tasks by rewarding appropriately make a difference in inducing commitment from staff.
#Effective communication:
Effective communication occurs when a message is received and understood in the same way as the sender intended it. It involves the careful organization of ideas, assessment of the right mode of transmission and the nature of the receiver. Studies have shown that most problems experienced in people management are due to poor communication. Strategic human resource management appreciates the role of communication as a critical tool in day-to-day human resource management. Open channels of communication that build trust and mutual understanding, helping employees to internalize the organization’s vision, mission statement, core values, policies, objectives, and activities are essential.
Frequent meetings with the top management, departmental and team meetings present the best opportunities for effective communication. Other channels include close interaction between staff and supervisors, billboards, brochures and instruction manuals. Informal communication is very useful in disseminating information if the danger of rumors and gossip is to be contained.
#Decentralisation for empowerment:
Strategic human resource management calls for a decentralization of decision making and problem-solving at the lowest levels possible in the organizational hierarchy. That is, allow decisions to be made at the very source of activity. Operational staff and teams are the public faces of the organization. Therefore they need power, authority, and motivation to take the right decisions at that level. Organisations with a human resource management culture cannot afford to embarrass themselves in front of a valued customer by failing to conclude business deals simply because a particular manager has to make a minor, unnecessary routine decision.
#Flexibility and adaptation:
The nature of today’s business’ success lies in the ability to promptly respond to the unpredictable and fast-changing environment. Flexible but robust rules and regulations, flatter organization structures, preference for a multi-skilled workforce, and use of convertible production technologies are some of the strategies used to improve an organization’s ability to cope with environmental pressure.
#Creativity and innovation:
SHRM calls for the management and employees to work together and come up with new ideas that can be put into practice so that new business opportunities can be created. With regards to employees’ management, creativity and innovation are required in areas such as pay schemes that are internally fair and externally competitive, job enrichment, enlargement, leadership, team building, retraining, and better employment arrangements.
#Obsession with quality:
In the language of total quality management, the customer is always right and quality is seen in the eyes of customers. In order to produce the best quality goods and provide the best quality services as perceived by the customer when compared to other producers or suppliers, the organization need staff orientated towards, and a motivation for excellence in quality products and services. Careful recruitment and selection of staff, appropriate training and development programmes, use of quality circles, and performance management systems that reward employees according to contribution are some of the strategies used to build and sustain a culture of quality.
The oval-shaped pictorial view of the model and the interaction between variables emphasize the fluidity, complexity and dynamic nature of the SHRM model. For example, effective communication will have a symbiotic multiplier effect on decentralization, employee commitment, creativity, integration etc. To use the language of cybernetics, the ‘whole’ is greater than the ‘sum’ of the variables. At the center of the model, we have organizational ability to implement each of the requisite strategies. This puts emphasis on the ‘doing’ rather than the ‘talking’ and therefore, it might be better to have a strategy of limited quality which is well implemented as opposed to having an excellent one which is almost impossible to implement.
Learn and Study, How to Integrating Business Strategy with Human Resource Strategy?
Strategy – is a plan or pattern that integrates an organization‘s major goals, policies, and action into a cohesive whole. Integrating Business Strategy with HR Strategy! PDF, PDF Reader, and Free Download. By drawing from strategic management literature, Bhatia (2007) looks at strategy in terms of a statement of the direction in which an organization wants to go and what it wants to become. Also Learned, Why Change to HRM? How to Integrating Business Strategy with Human Resource Strategy?
However, human resources must shape this direction. Therefore, as organizations become strategic, the same strategic decisions on managing people become necessary. Strategic decisions are decisions that determine the overall direction of the organization. Fombrun et al. (1984) regard strategy as a process through which the basic mission and objectives of the organization are set, and the process through which the organization uses its resources to achieve its objectives. Other scholars relate the strategy to a competitive advantage.
For example, Miller (1989) defines strategy as encompassing those decisions and actions that concern the management of employees at all levels in the business and that are directed towards creating and sustaining a competitive advantage. Human strategies like production, financial, marketing and others should be integrated with business strategy in order to establish operational linkages. Although strategic integration between business strategy and human resource strategy is desirable, it has not been an easy task.
Indeed, American and British firms have experienced disjointed and at many times side-lined human resource strategies in the overall organizational management process. In assessing the utility of strategic fit to the performance of the organisation and the overall improvement of human resource management functions, Green et al. (2006) concludes that the organisations that vertically aligns and horizontally integrates human resource functions and practices, perform better and produce more committed and satisfied staff that is the case with the organisations which do the opposite. Vertical alignment refers to the alignment of human resource practices to the organizational context in order to support specific organizational objectives.
Characteristics of vertical alignment include:
The top management incorporating human resource plans, requirements and activities during the establishment of the organization’s direction,
Top level managers being trained to integrate all levels of the organization’s management hierarchy and functional departments into the organizational decision-making process and
The human resource department is fully integrated into the strategic planning process.
Horizontal integration is the degree to which specific human resource practices are orchestrated in a coherent and consistent manner to support one another in the best way possible and to integrate with other departments.
The following are the characteristics of horizontal integration.
The human resource department works hard to maintain the corporate partnership with individual managers,
The human resource department regularly checks with other departments to identify organizational training needs and
The human resource department supports departmental managers in carrying out critical human resource management functions as part of their core functions and activities.
Therefore, the corporate strategy should set the agenda for human resource strategy in the following key areas:
#Mission:
This concerns setting the future of the organization. What will the organization be like, serving which purposes and to what extent? This will provide some indicators on the quantity and quality of staff that will be required to effectively transform the functioning of the organization to that level. This will form the basis of the human resource mission.
#Organisational culture:
Organisational culture could mean different things to different people because it depends on individual interpretation. We do not see the world around us in the same way and hence our interpretations of reality are different. An organization’s culture develops itself over a long time. Handy (1993) describes an organization culture as deep-seated beliefs, values, norms, attitudes about the way work should be organized, the authority exercised, people be managed, the degree of informalisation, obedience by subordinates, punctuality, adherence to rules and regulations etc. This framework is useful guidance in the process of developing human resource policies, regulations, and procedures in order to avoid possible contradictions between the established organizational culture and people management at lower levels.
#Human resourcing:
The process of human resource acquisition will depend on business strategy. For example, if new production lines are to be installed in three years’ time, there is no doubt that new skills will be required. Plans have to be made including training and recruitment so that there is the qualified staff of the right size to manage the new production line. The same will apply to service provision whether in the private or public sector organizations.
#Commitment:
As we noted in the first chapter, commitment to the organization cannot start at the bottom of the ladder. Employees have to see, feel, and believe that the top management is committed to making the organization the best place for them to work. Business strategies have to indicate that top management commitment in order to create enabling environment for human resource management strategies. Also Free Download PDF File: How to Integrating Business Strategy with Human Resource Strategy?
#Productivity:
Productivity is an indicator of how best resources are utilized in the organization. Business strategy has to set out performance targets, standards, and measurements. This will form the basis for developing strategies for acquiring the right skills, numbers and performance management as well as reward systems.
#Employee relations:
The relationship between the employee and the management as well as the relationships between employees themselves also depends on business strategy. For example, if a business’s future is not promising, it will certainly affect working relationships. Strategies have to be developed in order to avoid grievance and disputes that could become very costly to the organization. Such strategies could include work-sharing arrangements, introducing work shifts, voluntary retirement, part-time job arrangements and similar action.
Learn and Study, the Strategy and Strategic Human Resource Management (HRM)!
Strategic human resource management (SHRM) has attracted the attention of many scholars in human resource management, particularly those who shaped the development of the human resource management concept. The Strategy and Strategic of HRM! PDF, PDF Reader, and Free Download. Several definitions have been developed but they are not independent of ideas of general strategic management. Also learned, Critiques of HRM! The Strategy and Strategic of Human Resource Management (HRM)!
For the purpose of raising and comparing issues covered in the areas of strategic human resource management, three definitions are offered below.
The first is from Harrison (1993: 36) who defines strategic human resource management as:
“An overall and coherent long-term planning and shorter-term management, control and monitoring of an organization‘s human resources so as to gain from them the maximum added value and best position them to achieve the organization’s corporate goals and mission.”
This definition is about decision making and the process involved in terms of putting decisions into action. The main focus here is on planning for human resources, putting management systems in place so that staffing functions maximize the use of people as required by the organization. In other words, strategic human resource management exists only if the future of the organization is set and human resource strategies are developed and used to realize the future through the present.
An aspect of short-term management control and monitoring is necessary for the realization of the mission and goals. Chaturvedi, in Karadjova-Stoer & Mujtaba (2009) considers strategic human resource management as ‘linking human resource with strategic goals and objectives in order to improve business performance and develop an organizational culture that fosters innovation and flexibility’.
This definition is derived from both resource dependency and strategic management theories within the environment where the success of the organization is based on the ability to develop the most robust business strategy, coupled with having the right people to pursue it. However, it is important to note here that the word ‘business’ also covers transactions for profit.
Therefore, the achievement of the desired future for the organization is seen in terms of the ability to manage employees as the only resource that can mobilize and manage other resources. Therefore, failure to make the right decisions about people management leads to failure of the future of the organization.
Walker (1992) is more interested in the means rather than the end of strategic human resource management. The author points to the need for linking such means with the strategic component of the organization, thus strategic human resource management is about the methods of aligning the management of human resource with the strategic content of the business.
The general understanding derived from this definition is that staffing functions (recruitment, selection, placement, appraisal, rewards etc), which are used as a means of managing people should be directly linked to the strategic choice of the organization. Such choice could be growth, survival, merger, closures, diversification etc. Bhatia (2007: xiii) supports the same conceptualization of linking organizational strategy with people management by defining SHRM as:
The overall direction the organization wishes to pursue in order to achieve its goal through people as a strategic resource for the achievement of competitive advantage.
From this perspective, the goal is to generate strategic capability by ensuring that the organization has talented, skilled, committed, and well-motivated staff.
From the above definitions and scope of strategic human resource management, it is tempting to suggest that as much as it is not possible to come up with a comprehensive definition of strategic human resource management that will not be too wordy and confusing, or too short to give a clear picture of the strategic issues involved, human resource management could also be defined as the process of managing the workforce such that the organisation achieves a sustained competitive advantage over others.
Here, market forces are the drivers for strategic decision-making processes and implementation of staffing functions. In this case, strategic human resource management is both a proactive and reactive management process that transcends organizational lifespan.
Learn and Study, The Critiques of Human Resource Management (HRM)!
Human resource management has become so well established that if you talk about personnel management it seems old-fashioned. The Critiques of HRM! PDF, PDF Reader, and Free Download. Yet, there are limitations, which have also triggered questions as to whether the whole debate is not more of an academic pastime rather than utility in practice. Also learned, Philosophies and Objectives, The Critiques of Human Resource Management (HRM)!
Knowledge and skills of linking human resource strategy with business strategy are taken for granted. This task is housed in the human resource department whose staff is not necessarily trained in strategic business management. This casts doubts on the ability to establish that link.
#Human resource managers may not be perceived as business partners:
The doctrine that human resource managers should be seen by fellow managers as partners in business may be wishful thinking rather than what actually happens in practice. According to Schuler (2000), in reality, human resource managers are treated by other managers as a ‘second-class citizen’, whose role is more of a supplier of personnel.
#Conflict of roles:
The assumption that a human resource manager takes the role of a partner in business implies that he/she should be on the side of the management and hence employees should represent themselves. This scenario increases employees’ feeling of isolation and neglect, which can give rise to conflicts and disputes.
#Role ambiguity:
The assumption that the human resource manager should be a generalist and at the same time be able to handle specific human resource functions, leaves much to be desired with regards to the type of training suitable and efficient in human resource functions.
#Subjectivity:
The use of other strategies like teamwork, 360 degrees appraisal, and performance-based pay increase the use of subjective value judgment about individuals which may de-motivate some employees and trigger counter disruptive behaviors including rent-seeking or ‘just please the boss’ attitude.
Eight years earlier, Legge (1992) had gone further in criticising the relevance of human resource management theories to the level of almost throwing the whole philosophy out of the window. To him, human resource management poses ambiguities and contradictions such that it does not offer much which is new to academia and practicing managers. It is regarded as similar to personnel management, or a different way of referring to an advanced form of personnel management, a change of emphasis on key employee management issues and others. Table 1 presents a few of the areas of skepticism, hence making personnel management (PM) seem similar to human resource management (HRM).
Table 1 Similarities personnel management (PM) and human resource management (HRM):
Item
PM
HRM
Integration of PM/HRM policies with organizational goals
Line management involvement in employee management
Employee motivation and commitment
Adding value
Source: Legge (1992).
Legge’s criticisms may contribute to the understanding of where personnel and human resource management meet and therefore help us to understand why some writers in human resource management use the concepts of personnel and human resources management interchangeably. In trying to differentiate personnel management and human resource management, and indeed, based on a critical review of key chapters in Storey’s book and other contributors to the development of human resource management in the 1980s, Armstrong (1995) has summarised the comparison between PM and HRM as shown in Table 2.
Table 2 Differences personnel management (PM) and human resource management (HRM):
Item
Personnel management
Human resource management
Goals and values
Incremental interventions in attracting, retaining, motivating workers
Strategic focus. competitiveness, profitability, survival, competitive advantage and workforce flexibility
Professionalism
Personnel managers are accountable for employees’ matters (for which they are trained)
Line managers are accountable for their staff (they are multi-skilled)
Relations
Limited trust, conflict, and differentiation, control oriented
Harmony, mutuality of interests, active employee involvement
Employee management
Narrow in focus individualized
Broad and team focused
Information and communication
Control information and communication, bureaucratic, secretive
Transparency, objectivity, honesty, trust and commitment
